Fintech is a Portmanteau of Financial Technology that describes an Emerging Financial services sector in the 21st Century. Originally, the term applied to technology applied to the back-end of established consumer and trade Financial Institutions. Since the end of the first decade of the 21st century, the term has expanded to include any Technological Innovation in the financial sector, including Innovations in financial literacy and education, retail banking, Investment
New Technologies, like machine Learning Artificial Intelligence, Predictive Behavioral analytics and data-driven marketing, will take the guesswork and habit out of financial decisions. "Learning" apps will not only learn the habits of users, often hidden to themselves, but will engage users in learning games to make their automatic, Unconscious spending and saving decisions better.
Who uses Fintech? There are four Broad Categories: 1) Business 2 Business for Banks and 2) Their Business Clients 3) Business 2 Client for small Businesses and 4) Consumers. Trends Towards mobile banking, increased information, data and more accurate analytics and decentralization of access will create opportunities for all four groups to interact in heretofore unprecedented ways.